Vitalik Buterin has shared three “huge” opportunities that are yet to be realized in crypto: mass wallet adoption, inflation-resistant stablecoins and Ethereum-Based website logins.
In an interview with Bankless co-owner David Hoffman,Vitalik shared his opinions on the crypto industry in 2023. Responding to David Buterin raised concern that the “adoption wave” for decentralized applications is now over and that there’s “less opportunity” for developers to come in and build new decentralized applications.
Buterin instead dismissed the “limbo period.” Suggesting that it’s time to make crypto easier for everyday people to use and ensure it’s able to onboard billions of users. more development needs to be done on the wallet infrastructure.
Buterin underlined “If you can make a wallet that a billion people will use — that’s a huge opportunity.”
The co-founder of Ethereum noted that creation of a hyperinflation-resistant and globally accessible stablecoin that can deal with all kinds of situations both on-chain and in the broader macroeconomy–would be revolutionary for the industry.
“If you can make a stablecoin that can actually survive anything up to, and including, a U.S. dollar hyperinflation […] that’s a huge opportunity as well if you can create something that will feel like a lifeline for everyone going through that situation.”
Buterin said any technical developments that contribute toward Ethereum taking login authorities away from Facebook,Google,Twitter and other centralized monopolies will allow Ethereum to rule over a larger market on internet-based applications.
Buterin notes“If you can get signed in with Ethereum to work and if you can unseat Facebook and Google and Twitter as the login overlords of the internet, that itself is a huge opportunity, right?”
Most recently, on 19 November 2022, Buterin detailed all the cryptographic methods used by exchanges so far, including the limitations of such methods.
Vitalik also advised some new strategies for centralized exchanges to achieve trustlessness, including zero-knowledge, concise non-interactive logic of knowledge, and other advanced techniques.
Buterin expressed his gratitude to Coinbase, Kraken, Balaji Srinivasan (former CTO) and major crypto exchanges for a healthy discussion on CEX and how to regain trust.
“In the longer-term future, this kind of ZK proof of liabilities could perhaps be used not just for customer deposits at exchanges, but for lending more broadly.”
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/12/21/vitalik-buterin-shares-three-upcoming-opportunities-in-crypto-in-2023/